Light Commission accepts audit, OKs $308,472 transfer

Municipal Light Commission · Meeting of May 28, 2026

PEABODY — The Peabody Municipal Light Commission accepted a clean fiscal 2025 audit and voted to move $308,472 into its retiree health trust fund. CBIZ managing director Laura Stone told commissioners the audit carried an unmodified opinion but flagged a $55,000 cash-reconciliation gap in a shared city account and a segregation-of-duties lapse that let staff with ledger access also hold bank signing authority. "There is absolutely no money missing," one presenter said.

A separate BDO staffing study found PMLP's pay for key positions ranked in the 73rd percentile among peer utilities but its total compensation expense only in the 33rd percentile. Commissioners Harris, Melvin and Chairman Aylwood also approved a $30,000 payment in lieu of taxes to a neighboring town and backed a resident's plan to install American flags on downtown utility poles.

In the full story:

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• Peabody's community access TV: Municipal Light Commission meeting, May 28, 2026
• The complete report: 934 words

Source: the Municipal Light Commission meeting of May 28, 2026, reported from the official video recording and transcript.

Checked against the record: before publication this article was automatically compared with the meeting transcript. It was corrected where it differed.